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Reinsurance Solutions in FSU: Dmitry Garmash Insights

Explore the demands and actual solutions within the FSU reinsurance market, including market players, trends, and key areas of focus. Discover the factors shaping the region's reinsurance landscape. Contact Unity Re. Ltd. for specialized reinsurance services.

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Reinsurance Solutions in FSU: Dmitry Garmash Insights

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  1. Reinsurance solutionsand demands:actual within FSU Dmitry GARMASHDeputy CEO, Ph.D., MBAUnity Re Ltd.

  2. Non-life primary markets Source: XPRIMM insurance report, 1/2013 (8)

  3. Market players non-life

  4. Outward reinsurance non-life

  5. Position of the region • Total primary non-life GWP 2012= 22,7 bln EUR • Average annual growth = 28,4% • Total outward reinsurance 2012 = 3,5bln EUR • Just roughly 2% of world (re)insurance market • Clients’ field = 1 000 companies • Rough split of risk/non-risk = 60/40 • Indisputable core = Russian Federation • Key LOBs = Motor + MTPL + Mandatory lines + Property 5

  6. Specials of the region • No binding to a world insurance cycle locally! • Descending rates & dumping • Unified group of foreign reinsurers, leaders • Historically tight relationship with Russia • Market consolidation  significant quality & expertise upgrade • Disproportional development of fac and treaty • CAT-exposure in place however with underdeveloped models • Very differentiated state regulation • Still huge difference between Gross & Net capacity

  7. Demands vs solutions ;) • Reinsurers - high-rated • Price – very cheap • Capacity – extensive • Type – XOL • Retention – the lowest • Cover – PAR + very wide umbrella • Best if with LEG/DE, CBI, ALOP included • Quote in a couple of hours • Claim settlement in a couple of days • NCBs of >10-20%every year

  8. Demands vs solutions • Comfortable rating – above BBB/B+ • Capacity for property fac – above 20m USD a.o.r. • Fastest response & multiple quotations • Alternative leading though prudent and confident • Understanding regional marketing differences • Rated capacity but with flexibility • Diversified placement with the panel of >3-4 reinsurers field for good brokers • Targeted sales • Attentive selection of reinsurers

  9. Top-10 specialist reinsurers

  10. Business from outside Russia

  11. Thanks! Unity Re Ltd. T: +7 495 956 6589 F: +7 495 956 6598 E:re@unityre.ru W:www.unityre.ru

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